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Is There Morality in Personal Finance?

EU finance arm curbs loans to coal-fired power plants

Money teaches life lessons A lot of financial lessons are life lessons, too. The very philosophy of this site a good example of that. We’re founded partly on the idea that there is no get rich quick scheme. Financial freedom takes hard work and patience, and I think that can be a useful lesson for other life goals. Here’s another example of a money lesson I think could help with life in general.

Finance scandal: City of Miami never learns

Since the start of 2007, the EIB has loaned around 11 billion euros ($14.5 billion) to fossil fuel-fired plants, most of it to gas rather than coal, out of its total lending for power of 83 billion euros. “The vote to introduce an emissions performance standard represents a step-change in the EU’s fight against climate change and puts the bankers ahead of politicians in terms of tangible action,” said Ingrid Holmes, of environmental think tank E3G in a statement. She added: “With several directors pushing for 450 gCO2/kWh at the meeting, I’d expect to see it tightened further over the next 12 months as the politics of the EU’s broader approach to 2030 (carbon emissions) targets is settled.” An emissions cap of 450 g/KWh would mean that older, inefficient gas plants would also be ineligible for funding. The cap would have to be 150 g/KWh to force all gas plants to deploy largely unproven carbon capture and storage technology. “The move by the EIB is very welcome, but more needs to be done.

Finance c’tee readies NIS 400b. budget for Knesset approval

Whereas the 2010-2011 budget allotted NIS 1.6b. for such spending, the committee only set aside NIS 100m. this time around. With only four months left in 2013, there were fewer chances of wild miscalculations.

About an inch thick, the report set forth, in some detail, all the reasons why the city faced potential bankruptcy including serious management deficiencies. In addition to my recommendations, it also included specific recommendations from 43 pro bono corporate leaders and career public servants who were assigned to 12 separate task forces that embraced all aspects of the citys operations. Unfortunately, the level of mismanagement in the city extended far beyond fiscal matters, so the Miami Financial Oversight Board appointed by Gov. Lawton Chiles used the Recovery Plan as a road map to force members of the City Commission to face up to their basic fiscal responsibilities.